Alabama ranks 38th in income growth among states in second quarter

Alabama incomes grew slowly in the second quarter, relative to the rest of the nation.

Personal incomes earned by Alabama residents expanded by 0.6 percent annualized, according to new data from the Bureau of Economic Analysis. That puts Alabama at 38th-best on a list of states ranked by income growth.

Nationwide, incomes grew by 1 percent annualized compared to the first quarter.

Many of the nation's worst-performing states for the second quarter are located in the Plains region, including Nebraska (50th in income growth), Iowa (49th), South Dakota (48th), Minnesota (47th), North Dakota (46th), and Kansas (42nd). Decreases in incomes from farming appear to have hurt those states.

But two of the nation's top five performing states in terms of income growth are also from the Southeast: Florida ranked second overall with 1.5 percent annualized growth over the quarter, and Louisiana ranked fourth (1.3 percent). Tennessee (12th) and South Carolina (15th) also saw substantial income growth relative to other states.